Macerich Company (The) $MAC Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in Macerich Company (The) (NYSE:MAC) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,674,803 shares of the real estate investment trust’s stock after selling 378,868 shares during the period. Wellington Management Group LLP’s holdings in Macerich were worth $117,758,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in shares of Macerich during the second quarter valued at approximately $416,000. Public Employees Retirement System of Ohio acquired a new position in shares of Macerich during the second quarter valued at $8,129,000. Adelante Capital Management LLC acquired a new position in shares of Macerich during the second quarter valued at $12,575,000. Corient Private Wealth LP bought a new stake in shares of Macerich during the second quarter valued at about $2,089,000. Finally, Bamco Inc. NY bought a new position in Macerich in the 2nd quarter valued at about $125,944,000. Institutional investors own 87.38% of the company’s stock.

Macerich Trading Down 0.4%

Macerich stock opened at $23.52 on Wednesday. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of -36.18, a price-to-earnings-growth ratio of 1.70 and a beta of 2.06. Macerich Company has a 1 year low of $16.03 and a 1 year high of $26.67. The firm’s 50 day moving average price is $25.04 and its two-hundred day moving average price is $22.49. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $249.71 million for the quarter, compared to analyst estimates of $239.77 million. Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. Macerich’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. On average, research analysts predict that Macerich Company will post 1.49 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be given a $0.17 dividend. The ex-dividend date is Monday, September 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.9%. Macerich’s dividend payout ratio (DPR) is -104.62%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MAC. LADENBURG THALM/SH SH upped their price target on shares of Macerich from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. JPMorgan Chase & Co. raised Macerich from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $23.00 to $25.00 in a report on Wednesday, June 17th. Evercore set a $25.00 target price on Macerich in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft raised Macerich from a “hold” rating to a “buy” rating and increased their price target for the company from $20.00 to $27.00 in a research note on Tuesday, June 2nd. Finally, Mizuho set a $28.00 price objective on Macerich in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Macerich Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.